☰
BMW has reportedly signed a direct supply assurance agreement with several chip suppliers, including feature-rich semiconductor producer GlobalFoundries, and high-tech chip developer Inova semiconductors.
As the global chip shortage continues to hinder the growth of the automotive industry, BMW has decided to join the bandwagon of automakers, including Stellantis, in collaborating with chip suppliers to ensure an uninterrupted supply of semiconductors.
According to Inova CEO Robert Kraus, the semiconductor manufacturing company considers this agreement with BMW to be an accomplishment for its business.
In the same vein, GlobalFoundries senior VP and automotive, industrial, and multi-market GM, Mike Hogan, expressed that this powerful alliance with BMW and Inova shows how companies are partnering for innovation and advancement of technology for future vehicles.
As per the agreement, the Bavarian company will receive a yearly supply of a million chips, which will be used in the co-developed ISLED (Intelligent Smart Embedded LED) smart LED technology.
The company said that the new chips will be employed for the first time in the BMW iX SUV, the brand's flagship model, as well as other models.
Dr. Andreas Wendt, a board member of BMW AG leading the purchasing and supplier network, stated in the agreement that the next logical step in ensuring a steady supply of microchips was to join forces with the manufacturers.
The company is increasing partnerships with suppliers and synchronizing their capacity by planning directly with semiconductor producers & suppliers. This would confirm the reliability and transparency regarding the volume required, as well as give clarity to everyone involved in the process, Wendt added.
BMW with this partnership is attempting to construct a resourceful supply chain to keep up with the growing consumption and demand while also propelling the company toward more technological innovations.
Source credit:
Fitbit, a Google company, is reportedly facing a series of privacy complaints within the European Union. These complaints revolve around allegations that the company is engaging in unlawful exporting of user data, thereby violating the EU's strin...
Social network X, previously known as Twitter, has reportedly unveiled more modifications that involve the retirement of certain legacy API endpoints. The company implemented adjustments to its API pricing in March, resulting in elevated costs for...
Zapata AI, a software enterprise dedicated to addressing intricate computational challenges, has reportedly unveiled a strategic partnership with IonQ, a leading figure in quantum computing hardware and commercial quantum application advancement. The...
The tech giant Meta has reportedly introduced AudioCraft, a framework capable of generating high-quality audio and music based on short text prompts. The AudioCraft framework aims to simplify the use of generative models for audio by providing a c...
GlaxoSmithKline Pharmaceuticals, the Indian arm of GSK plc based in the UK, reportedly recorded an 11% increase in its first-quarter profit, driven by robust demand for its vaccines. According to the company's statement, the consolidated profi...
© 2024 aeresearch.net. All Rights Reserved.
